Friday, February 26, 2010

UK Economic Growth Upgraded

The UK economy grew by 0.3% in the final three months of last year, faster than previously estimated.

The revision was due to stronger growth in services and production.

The initial estimate released last month said the UK economy had grown by 0.1% in the last quarter of 2009, meaning it had emerged from recession.

However, the figure for the overall contraction in gross domestic product (GDP) during the recession was revised down, from a 6% fall to a 6.25% drop.

Prior to the October to December period, the economy had contracted for six consecutive quarters - the longest period since quarterly figures were first recorded in 1955.

BBC News - UK economic growth revised up to 0.3%

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